Trades like it today. We bottomed at the 1.5155 level not long after Goldman’s earnings report spooked the markets. On second glance, the market decided the Goldman numbers were not that bad and the stock has recovered its early losses. Cable looks to be trading in lockstep. Makes a certain amount of sense given the UK economy’s reliance on financial services for growth.
Cable has bounced sharply, now at 1.5235 from 1.5155 lows. Downtrend resistance comes in around 1.5288.
